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Asset protection estate planning requires professional guidance

California residents who save and invest to increase their retirement funding are also generally concerned about asset protection measures to keep their assets protected and preserved. This process is called asset protection estate planning. It involves the use of an estate planning attorney, along with one or more other professionals as necessary in the areas of tax and investment strategy.

Several different strategies and investment vehicles are available to choose from depending on the financial situation, needs and goals of the individual or married couple. One investment vehicle that offers tax savings is the municipal bond. These can be purchased individually or in a mutual fund or similar structures. One attraction of these bonds in addition to tax benefits is their ready liquidity.

As with all investments, however, there are risks associated with bonds. They must be incorporated into your asset protection strategy only in conjunction with the assistance of a qualified professional. Other assets that may be considered include fixed annuities, which pay stated interest rates but defer taxes.

Fixed annuities give tax deferral benefits and are safe investments. There are different types of annuity packages with different features so that again it is necessary to work with a certified professional to make the best choices for the investor's own circumstances and goals. There are risks associated with annuities, especially if the funds are accessed early.

The estate planning attorney who is experienced with the relevant federal and California state laws is the anchor of the professional team that an individual or married couple will employ for maximum results. The attorney will guide the client through a decision-making process, including the type of trust or other investment vehicles to use for the best asset protection outcomes. Each person or couple will have individualized needs that must be factored into the plan's overall strategy.

Source:, "Financial planner talks asset protection estate planning", July 19, 2017

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